Geopolitical tensions have now eased, leaving freight rates to feel the full effects of the weak underlying market and falling demand. Tanker shipping looks set to be under pressure for the rest of the year.

In 2016 the dry bulk shipping sector experienced some of the worst market conditions in history. In response, BIMCO produced a unique analysis model, named "Road to Recovery" to highlight actions needed for the struggling shipping markets to recover - and to track their progress.

State of the Bunker Industry - Examining the Key Issues Stakeholders Face Today

26 May 2020

This is not the post-2020 environment we expected. The event examined the key issues that marine fuel stakeholders from buyers to suppliers face today. How did we get here, and what can we expect in the months ahead? Is there any IMO 2020 hangover at all, or is the focus now only on dealing with the reality of new market dynamics and the changing economic landscape? Peter Sand, Chief Shipping Analyst, BIMCO provided the Shipowners' Perspective.

Impact of COVID-19 on Future Shipping Demand with BIMCO's Peter Sand

14 May 2020

From the drastic decrease in oil demand to lockdown in manufacturing, Peter provided an overview of the macroeconomic challenges being faced by individual shipping sectors and subsequently indicators of how the breakbulk and project cargo sectors are faring through the current pandemic.

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Get analysis of the dry bulk, oil tanker and container markets. The BIMCO shipping market analysis team writes a mix of quick insight and deep analysis with a focus on the fundamentals: supply and demand.

While the Capesize segment has been massively impacted by the coronavirus, the smaller dry bulk segments are starting to recover towards profitable territory, partly on the back of seasonally higher grain exports from South America.

Low demand growth will continue into 2020, with carriers struggling to increase freight rates enough to cover the additional costs of the IMO 2020 sulphur cap compliance. Fleet growth is lower then last year, but still too high compared to demand growth.

The outbreak of the novel Coronavirus has dented market sentiment and spooked markets around the globe. When China sneezes, we all catch the flu. This especially holds true for the commercial shipping markets, which remain heavily reliant upon China, both on the import and export side.

US seaborne exports to China of the goods which China has imposed tariffs on since the start of the trade war fell by 37.6% in the first 11 months of 2019 (11M 2019) compared to the same period of 2017, the last full year unaffected by the trade war.